Học Thi Real Estate License ở California: Real Estate Agency 1. An agent may disobey instructions of the agent's principal: in an emergency situation when the agent feels it is in the principal's best interests if disobedience will not jeopardize the principal's interest never None Hint 2. If a principal allows his or her agent to appear to have authority, the principal may not later deny an act of the agent, because of: ratification the Unruh Act estoppel subrogation None Hint 3. Which of the following does not need any special knowledge of law? none of these a real estate salesperson an attorney-in-fact a real estate broker None Hint 4. An attorney-in-fact cannot: any of these record a notarized power of attorney sell real estate of his or her principal take a mortgage on his or her principal's property None 5. The Real Estate Commission conducts hearings in accordance with the: Real Estate Law Commissioner's regulations Public Procedures Act Administrative Procedures Act None 6. Balancing a bank statement with a trust account is known as: none of these reconciliation trial balance auditing None 7. The three steps of agency disclosure, in the proper chronological order, are: confirm-elect-disclose disclose-confirm-disclose elect-confirm-disclose disclose-elect-confirm None 8. A broker buys a property he has listed: he has violated the Real Estate Law he must inform the owner that the offer is his he violated his agency all of these None 9. IRS Form 1099 would be used by a broker to report: foreign sellers suspected fraud a salesperson's earnings receipt of $10,000 in cash None Hint 10. The primary purpose of the Real Estate Law is to: none of these limit competition protect the public protect commissions None 11. Under the Business and Professions Code, which of the following is not grounds for revocation of license? none of these commingling one's own funds with money of others held by him or her acting for more than one party to a transaction with the consent of all parties making a single false promise of a character likely to induce a buyer None Hint 12. Disciplinary hearing for real estate licensees would be conducted by: the real estate commissioner the superior court an administrative law judge the real estate advisory commission None 13. California allows which type of agency? transaction brokers facilitators designated agency none of the above None 14. A salesperson, in selling listings of another broker, would be directly responsible to: the multiple listing service the listing broker his or her broker the owner None Hint 15. An agency agreement does not require: a competent principal mutual consent consideration any of these None Hint 16. A property owner tells the broker that the house is connected to the sewer. The broker relays this information to the buyer, who later finds that the house has septic system in need of repair. The buyer would probably sue: the owner no one, as he or she should have checked the broker and the owner the broker None Hint 17. A property owner suffers a loss because of the fraudulent misrepresentation of a broker. The owner should: immediately file a claim with the Real Estate Commisioner none of these immediately file a claim with the Real Estate Education Research and Recovery Fund sue the broker for damages None Hint 18. In a sale transaction, a broker represents only the buyer. This would be an example of: single agency general agency designated agency dual agency None Hint 19. Commingling is the opposite of: subrogation mixing subordination separation None 20. A buyer claims that a seller and a broker failed to reveal many defects known to them that made the property unsuitable for the purpose stated. the buyer does not have a case the broker should have stated "as is condition" in the deposit receipt the broker could be subject to discipline the broker should have stated "as is" in the deposit receipt None Hint 21. The Sherman Act prohibits all except agreements to: split commission divide a market geographically refrain from cooperation with another broker set minimum commission None 22. If an agent is guilty of a tort, the: principal is liable for all torts of an agent agent is liable only if the tort is outside the scope of the agency principal is liable only if the tort is outside the scope of the agency agent is liable, even if the tort is committed at the principal's direction None Hint 23. An agent failed to reveal to the seller that she was acting in a dual agency capacity. Therefore, the agent: all of the above has placed the seller in a position where he can rescind the contract cannot enforce the collection of a commission from the seller could be subject to disciplinary action None 24. An example of a red flag would be: Chinese ownership a floor that is not level an older home A home overbuilt fo the neighborhood None Hint 25. The Business and Professions Code comes from: the National Association of Realtors the Real Estate Commission the state legislature the California Association of Real Estate Brokers None Hint 26. A transfer disclosure statement is required for: foreclosure sales sale between spouses subdivision sales involving a public report sale of 1-4 residential units None 27. A Real Estate Transfer Disclosure Statement is NOT required for the sale of: a residence sold "as is" a non-owner occupied duplex a home where the sale price is less than $300,000 a commercial property None Hint 28. A buyer of a duplex did not receive a transfer disclosure statement. The buyer can: sue for punitive damages sue for specific performance cancel only if the title has not transferred cancel the contract None 29. A broker sells an apartment building to a syndicate of which the broker is a member without informing the seller of this interest. Before closing, the owner discovers the broker's interest and refuses to sell. In a suit to collect a commission, the result would probably be: that the broker would get the commission revocation of the broker's license that the buyer would obtain specific performance that no commission would be paid None Hint 30. A broker offered subagency to another agent. Which of the following is a true statement? the other agent would likely decline the owner must have authorized it if accepted, the other agent would have all the agency duties to the owner all of the above None Hint 31. A contract for the sale of residential property includes a general "as is" provision. This provision: applies only to matters of record is valid on caveat emptor theory can be ignored, as it takes away the right to a habitable dwelling applies only to visible and observable conditions None 32. The maximum amount that a person can recover from the Real Estate Education Research and Recovery Fund after he or she has obtained a judgment against a licensee is: $20,000 $500 $50,000 no limit-the amount of his or her loss None Hint 33. The Real Estate Law is part of: none of these the Statute of Limitations the Corporation Code the Business and Professions Code None 34. A seller sold property "as is". The broker knew the plumbing was in bad repair but did not inform the buyer. The buyer can sue: no one, as "as is" is really notice of problem none of these no one, as the sale was "as is" the broker None Hint 35. XYZ Inc. listed a warehouse for sale. After giving the listing, all the officers and directos are killed in a plan crash. What happens to the listing? it remains in full force and effect it is suspended until new officers and directors take over it is automatically terminated it becomes a listing coupled with an interest None Hint 36. The agency between a real estate broker and an owner would not be: an implied angency an express agency a formal document an executed agreement None Hint 37. A broker may never: act as an escrow sell his or her own property to a customer accept commissions from the buyer and the seller none of these None Hint 38. The Commissioner's regulations: are part of the Corporation Code have the effect of law are the Real Estate Law must be approved by the governor None Hint 39. When is a broker engaged in dual agency? when the broker represents the seller and another broker represents the buyer when the broker lists a property he or she previously sold when the broker represents the seller and the buyer when the broker buys a property he or she listed None 40. The Real Estate Law comes from: the National Association of Real Estate Brokers the Real Estate Commissioner the state legislature the federal government None 41. Penny sues a licensee for damages resulting from dishonest conduct in a real estate dealing. The maximum she can collect is: $7,500 none of these $20,000 $5,000 None Hint 42. Use of term REALTOR by a licensee not authorized to do so could result in: suit by the National Association of REALTORS any of these revocation of license suspension of license None Hint 43. The agency formed by an exclusive listing is: an implied agency none of these an ostensible agency an express agency None Hint 44. An agency relationship would not be created by: ratification subornation implication a verbal agreement None Hint 45. A broker acts as an undisclosed agent for both the buyer and seller in a transaction. The buyer does not want to go through with the purchase although the price she agreed to pay is fair. the buyer could be subject to actual damages either a or b is true the buyer could be subject to liquidated damages the buyer may withdrawn without penalty None Hint 46. Both an owner and a buyer ask to have the trust funds deposited by the buyer. The broker should: commence an interpleader action ask the real estate commissioner for advice split the funds with 1/2 to each turn the funds over to the recovery fund None Hint 47. A principal would not be liable for torts of: an agent outside the scope of the contract an independent contractor outside the scope of the contract an independent contractor within the scope of the contract any of these None Hint 48. A person may give a power of attorney to: sign a grant deed accept an offer on real estate list real estate any of these None Hint 49. As to a broker's trust accounts, which of the following is true? none of these it must be audited yearly every broker must have one a record must be kept of funds received that are deposited directly into escrow None 50. A real estate salesperson is to his or her broker as: an independent contractor is to a principal an agent is to a principal a principal is to a principal an employee is to an employer None Hint 51. How long does a broker have to deposit a check received made out to the broker's trust account? 24 hours two business days three business days one business day None 52. A listing broker can have any of the following agencies except: both b and c dual agent seller's agent buyer's agent None Hint 53. Which of the following woulf most likely be a general agent? a property manager a broker acting as agent for both a buyer and a seller a leasing agent a transaction broker None Hint 54. Upon acceptance of an offer, a broker may never: deposit earnest money into a trust account turn earnest money over to the seller deposit earnest money into escrow none of these None 55. When may a broker accept a commission from both a buyer and a seller? if both parties consent if he or she provided service to both parties if the total commission received does not exceed $500 never None 56. A real estate broker can be discliplined for: violating the Franchise Investment Law making a secret profit failure to supervise salespeople any of these None 57. A salesperson's business card must include: the salesperson's name as it is on his or her license the broker's name all of the above the salesperson's license number None 58. When may a broker refuse to submit a low offer to purchase to the owner? neither a nor b both a and b when the broker has clear instructions as to not submit offer below a set price when the offer is clearly frivolous None 59. The written contract between an employing broker and an employed salesperson is required by: none of these the Real Estate Board the Business and Professions Code Real Estate Commission regulations None 60. As to money held in trust, which of the following is true? all of these trust accounts must be reconciled monthly records must be kept of checks held uncashed trust funds for taxes and insurance may bear interest None 61. A broker exceeds his authority and without the owner's knowledge tells the buyer that the house will be repainted. the owner alone is liable as the broker was her agent none of these is true neither the owner nor the broker is liable if it wasn't in writing the broker is liable None 62. Commingling is the reason more licenses are revoked than any other. Which of the following is an example of commingling? holding a deposit check uncashed after acceptance at the direction of the seller holding a deposit check uncashed prior to acceptance at the direction of the buyer holding a deposit check uncashed at your own discretion all of these None 63. A country real estate broker's office is in his home. His sign reads "John Jones-REALTOR". He lives 25 miles from a bank and makes trips twice a month to deposit funds in his trust account. He keeps deposits in his office safe until then. He does not belong to any profeessional organizations, but he pays a 17-year-old boy $5 for each listing. Jones is guilty of all but which of the following? an illegal sign zoning violation commingling funds paying an unlicensed person to solicit listings None Hint 64. A valid agency requires a(n): attorney-in-fact express agreement none of these written agreement None Hint 65. A real estate broker is guilty of conversion. He or she most likely: split his or her commission with an unlicensed party commingled funds used trust funds for personal use acted for both parties to a transaction without their approval None Hint 66. A salesperson's relationships to an ownerclient of the broker would be most nearly that of: subagent independent contractor principal employee None Hint 67. An owner unilaterally cancelled a six-month sale listing with three months to go. Which of the following is a true statement? the agent no longer has a duty to seek buyers the listing has been cancelled all of the above the owner could be liable for damages None Hint 68. A broker who is on the city planning commission tells some friends about an advantageous deal based on confidential plans to change the zoning. The broker does not personally benefit in any way. The broker's action: is unethical both a and b places his license in jeopardy neither a nor b None 69. A broker is selling his own rental unit. He collects the rent on the first day of the month, which is the same day he receives a deposit with an offer to purchase giving him three days to accept. He should: open two new trust accounts, one for the rent and one for the deposit none of these put the rent and purchase deposit in his usual trust account put the rent in a new trust account and the deposit in the usual trust account None Hint 70. A selling agent can be : a dual agent buyer's agent only seller's agent only any of the above None Hint 71. The first action of the Real Estate Commissioner, prior to disciplinary action against a licensee, would be: an injunction notification to the attorney general an accusation suspension of license activity None 72. A listing broker may not be: the sole agent of the buyer none of these a dual agent the sole agent of the owner None Hint 73. A selling agent can elect to be: dual agent seller's agent any of these buyer's agent None 74. The court decision that requires the agent to make a reasonable visual inspection of the premises is: Shelley v. Kraemer Brown v. Board of Education Charley v. Vogel Easton v. Strassburger None 75. A hazardous, colorness, odorness gas found in homes describes: asbestos PCBs lead radon None
